SỐ 180 | THÁNG 3/2021
Tác động của minh bạch thông tin tài chính đến chi phí vốn chủ sở hữu – Nghiên cứu trường hợp các doanh nghiệp ngành hàng tiêu dùng niêm yết trên thị trường chứng khoán Việt Nam
Dương Tùng Lâm, Nguyễn Thị Mai Hương
Tóm tắt:
Nghiên cứu này sử dụng số liệu năm 2018 được thu thập từ các báo cáo tài chính, báo cáo quản trị công ty và các tài liệu được công bố để chứng minh ảnh hưởng của minh bạch thông tin (MBTT) tài chính đến chi phí vốn chủ sở hữu (VCSH) của các công ty niêm yết thuộc ngành hàng tiêu dùng trên thị trường chứng khoán Việt Nam. Vận dụng mô hình của Barth, Konchitchki, & Landsman (2013), kết quả cho thấy MBTT tài chính có ảnh hưởng ngược chiều đến chi phí VCSH của các công ty niêm yết Việt Nam – nghĩa là khi các công ty niêm yết có mức độ MBTT tài chính càng cao thì chi phí VCSH càng giảm.
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The Impact of Financial Information Transparency on Cost of Equity – A Case Study of Consumer Goods on the Stock Market in Vietnam
Abstract:
This study uses data for 2018 collected from financial statements, management report, and published documents to demonstrate the effect of financial information transparency on the cost of equity by consumer goods on the stock market in Vietnam. Applying the model of Barth et al (2013), the results show that financial information transparency actually has a negative impact on the cost of equity of Vietnamese listed companies. The higher level of financial information transparency reduce the cost of equity ịn listed companies.